Gen Phoenix, a manufacturer of recycled leather fiber material Sustainable leader on a scale, today announced a new chapter in his current association with Tapestry, Inc. (NYSE: TPR), the house of iconic brands, including Coach, Kate Spade and Stuart Weitzman. The Association includes a three -year contracted supply agreement, together with a greater investment of the tapestry as part of the $ 15 million PHOENIX GEN series directed by the Risk Capital Company, Material Impact. As part of the round, Tapestry has increased its capital participation in PHoenix Gen to 9.9%, almost quadruple its initial investment of 2023.
Tapestry has increased its capital participation in Gen Phoenix to 9.9 percent, almost quadrupling its initial investment of 2023. The expanded association includes a three -year supply agreement and supports the financing round of $ 15 million of PHOENIX gene. Its objective is to climb circular leather innovation, reinforce sustainable supply chains and meet the demand for ecological and conscious materials.
This multifaceted association solidifies the role of PHOENIX GEN as a central partner of material innovation for tapestry brands, which allows access to next -generation materials to an unprecedented scale and consistency.
“This expanded association marks an important milestone, not only for phoenix gen, but for the future of sustainable materials,” he said John Kennedy, CEO of Gen Phoenix. “Together with the tapestry, we are demonstrating that circular innovation can meet the demands of global brands without obligation. It is a powerful example of what happens when combining innovation of materials, leather heritage, shared values and a commitment to the scale.”
An association created for scale, resistance and impact
The association between PHoenix and Tapestry Gen, first initiated in 2022, has evolved far beyond a typical supplier relationship, which serves as a plan for how brands and material innovators can cook sustainable solutions. The two companies have worked from side to side (R&D access, factory floors and design information) to design a material that honors the heritage of leather tapestry marks that are known while extending their life through circular transformation.
“This investment reflects our belief in the power of innovation to boost both the purpose and profits. The PHoenix Gen platform allows scale circularity, which releases high quality materials that meet the style, performance and expectations of impact of the current consumer,” he said Scott Roe, Financiero de Tapiz and Operations Director. “As a world leader in quality leather articles, we see a significant opportunity to be a next -generation material catalyst that are consistent with our inheritance of crafts. This association reinforces our commitment to lead the fashion industry in sustainable innovation and guarantee a resistant and resistant supply chain to the future.”
Feeding the future of circular materials with new funds
Tapestry's last investment advances the sustainability of companies and commercial objectives:
- For the Tapiz, it offers resilience of the supply chain, quality performance and alignment with the values of next generation consumers.
- For Phoenix Gen, collaboration validates even more the scalability and commercial potential of its material platform, exceeding the one that can meet the three key criteria that matter the most leading brands: price, performance and planet. In other words, deliver sustainability without compromising price or quality.
Through the investment round of $ 15 million of phoenix gen, the company will be enabled for:
- Expand to new global categories and markets.
- Scale its production infrastructure in its United Kingdom facilities, which has capacity for more than 60 million feet² annually.
- Accelerate R&D and the commercialization of its completely circular leather solution that integrates waste posterior consumption and the end of life.
As luxury retail brands adopt more and more a trend that Phoenix calls 'Luxcycling': the use of innovative materials and patented manufacturing processes to extend the useful life of luxury fashion and the accessories of fashion products and innovation products of the industry industry industry.
Note: The holder, the ideas and the image of this press release may have been refined by Fiber2Fashion staff; The rest of the content remains unchanged.
Fiber2Fashion News Desk (HU)
